How to Buy Bitcoin

Bitcoin (BTC) cryptocurrency ranks at 1 place by capitalization. It’s 8 April 2024 on $1,408,361,838,935 year. Circulating supply: 19,677,181. Maximum supply – 21,000,000. The price of BTC for today – $71,536.00 with trading volume of $36,877,874,580 for 24 hours. The maximum price of Bitcoin was registered on 14 March 2024 year and was – $73,738.00. The lowest price of BTC, $67.81, was registered on 6 July 2013.
Bitcoin (BTC)
$71,536.00 +3.47% ↑
24h price change
$2,400.00
Capitalization
$1,408,361,838,935
24h trading volume
$36,877,874,580
on the official website

How to Buy Bitcoin Price in USD: Convert to US Dollar

BTC
BitcoinBTCBitcoin
EthereumETHEthereum
TetherUSDTTether
BNBBNBBNB
SolanaSOLSolana
Lido Staked EtherSTETHLido Staked Ether
XRPXRPXRP
USDCUSDCUSDC
DogecoinDOGEDogecoin
ToncoinTONToncoin
CardanoADACardano
AvalancheAVAXAvalanche
Shiba InuSHIBShiba Inu
Bitcoin CashBCHBitcoin Cash
PolkadotDOTPolkadot
Wrapped BitcoinWBTCWrapped Bitcoin
TRONTRXTRON
ChainlinkLINKChainlink
UniswapUNIUniswap
PolygonMATICPolygon
US Dollar
USD
US DollarUSDUS Dollar
/wp-content/themes/tgd/assets/images/content/flag_eu.svgEUREuro
/wp-content/themes/tgd/assets/images/content/flag_ru.svgRUBRussian Ruble
/wp-content/themes/tgd/assets/images/content/flag_ua.svgUAHUkrainian hryvnia
/wp-content/themes/tgd/assets/images/content/flag_pl.svgPLNPolish zloty
/wp-content/themes/tgd/assets/images/content/flag_gb.svgGBPPound sterling
/wp-content/themes/tgd/assets/images/content/flag_jp.svgJPYJapanese yen
/wp-content/themes/tgd/assets/images/content/flag_ch.svgCHFSwiss Franc
/wp-content/themes/tgd/assets/images/content/flag_cn.svgCNYChinese Yuan
/wp-content/themes/tgd/assets/images/content/flag_tr.svgTRYTurkish Lira
on the official website
Data updated 4/8/2024

    Bitcoin is the first cryptocurrency in the world appeared in 2009 in Japan. Its creator is a programmer and cryptographer known by nickname Satoshi Nakamoto. Appearance of bitcoin gave birth to thousands of other digital coins now called altcoins. But since its appearance BTC is still the most popular and largest cryptocurrency by market capitalization.

    TGDRating experts have found out where it is better to buy Bitcoin now. Detailed instructions on buying, selling, withdrawing and storing this coin are below.

    What is Bitcoin (BTC)?

    Bitcoin is a decentralized digital currency that operates on the basis of a software protocol.

    All transactions are verified by network nodes using cryptography and recorded in a public distributed database called blockchain.

    Bitcoin became the first blockchain-based cryptocurrency. Thanks to the blockchain, cryptocurrencies now have such a unique characteristic as decentralization (an independence from the central government and absence of intermediaries).

    The creators of Bitcoin managed to develop a reliable and decentralized system for money transfers, which is built and evolved by the users themselves. Today Bitcoin is used as a unit of account (in Salvador it even has the official status of a instrument of payment) and an instrument for investments.

    Where to Buy Bitcoin (BTC)?

    To buy Bitcoin and other digital assets one can use cryptocurrency exchanges. Benefits of buying BTC on a crypto exchange:

    • Best rates;
    • High liquidity;
    • Variety of payment methods (bank transfers, cards, e-wallets, etc.);
    • Purchase of cryptocurrency with fiat (dollars, euros, etc.);
    • Security.

    Next, let’s look at how to buy BTC on the cryptocurrency exchange step-by-step. As an example we will use the world’s largest exchange in terms of trading volume Binance.

    Bitcoin Step-By-Step Buying Guide

    To buy Bitcoin on the exchange, follow the 5-steps guide.

    1. Assess the Personal Level of Risk

    First of all, answer yourself an important question: How much risk are you willing to take when buying bitcoins? The high volatility of cryptocurrencies does not allow you to accurately predict the result of investments. The Bitcoin exchange rate may not move as you expected, which is fraught with losses.

    Bitcoin cost about $1 at the time of its first public appearance. The highest price of bitcoin was recorded on November 10, 2021: the rate was above $69,000. But soon it collapsed by more than 70%.

    Since the exchange rate cannot be expected to be stable and predictable, it is important to determine the level of risk before investing so, that you do not lose more than you can afford to lose.

    2. Select a Crypto Exchange

    There are a huge number of crypto exchanges and even experienced users find it difficult to make a right choice, what to say about beginners. When choosing a crypto exchange to buy bitcoin, pay attention to the following parameters:

    • User-friendly interface;
    • Requirements for Verification;
    • Daily trading volumes (the more, the better);
    • Number of supported trading pairs;
    • Commissions and limits;
    • Convenience and functionality of trading terminal;
    • Available security settings;
    • Platform availability and restrictions in your region;
    • Rating and users’ reviews.

    TOP exchanges with Bitcoin:

    Exchange
    Website
    BTC trading volume, 24h
    1Binance
    Binance
    BTC trading volume, 24h
    112,645
    2Bybit
    Bybit
    BTC trading volume, 24h
    19,864.58
    3OKX
    OKX
    BTC trading volume, 24h
    16,736.58
    4WhiteBIT
    WhiteBIT
    BTC trading volume, 24h
    9,722.19
    5MEXC
    MEXC
    BTC trading volume, 24h
    7,596.83

    3. Create Your Account

    Binance crypto exchange is characterized by huge trading volumes, a large number of trading pairs, including pairs with fiat, low commissions and a high level of trust among users. If you have not used Binance services before, then you need to start by registering. For this:

    1. Go to the official website of the exchange and select Register in the upper right corner;
      Begin registration on Binance
      Starting registration on Binance
    2. Select Sign up with phone or mail in the next window;
      Sign up on Binance by phone or email
      Sign up on Binance by phone or email
    3. Choose the registration method to create a personal account: email or phone number;
    4. To register by email, enter a valid email address, create a password, accept the terms of use of the exchange;
    5. Click Create Personal Account;
      Binance Registration Form
      Binance registration form
    6. You will get an email from Binance to the email address specified before (or to phone number) asking to verify your data;
    7. Follow the link in the email – and there the registration is complete.

    4. Top Up Your Account

    Before depositing funds on the exchange, you need to find out in which currency pairs Bitcoin is traded. Binance offers a lot of BTC/Crypto or BTC/Fiat currency pairs. Select the pair, for example, BTC/USDT you prefer to purchase. Now you need Tether (USDT) on your exchange balance to buy BTC by USDT. Let’s top up your account with this coin:

    1. Click the tab Wallet → Fiat and Spot in your personal account,;
    2. Select the Deposit option in the wallet and find the line with USDT;
    3. Press Deposit;
      USDT deposit
      Depositing USDT
    4. Specify the network (for example, ERC20) in the replenish request. The selected network must match the network in your crypto wallet, otherwise the funds will be lost;
    5. The system will give you an address for transferring USDT on the Ethereum network: copy and paste it into the wallet from where you transfer coins;
      USDT deposit address
      USDT deposit address
    6. Complete the transaction in the wallet and wait for the funds will be transfered to the exchange.

    5. Buy Bitcoin (BTC)

    To buy BTC on the Binance spot market we will use USDT coins received on the previous step. For this:

    1. Click Trade → Spot in your personal account;
      Trading on the Binance Spot Market
      Trading on Binance spot market
    2. Select BTC/USDT pair on the right side of trading terminal;
      BTC/USDT Trading Pair
      BTC/USDT trading pair
    3. Create an order to buy BTC: specify order type (for example, Market order. It allows to buy coins at the current market price);
    4. Enter the amount of USDT you want to spend on buying bitcoins in the Total column;
    5. Click Buy BTC.
      Buying BTC with USDT on the Binance Spot Market
      Buying BTC with USDT on Binance

    How to Sell Bitcoin?

    To sell BTC, you will need to follow the same procedure as for buying. There will be only one difference: you need to fill out the sell order form (located on the right side of terminal), and then click the red button Sell BTC.

    Selling BTC for USDT on the Binance Spot Market
    Selling BTC for USDT on Binance

    How to Store Bitcoin (BTC)?

    The place to store bitcoins should be chosen based on your goals.

    If you use them for active trading and frequent transactions, then choose “hot” crypto wallet (always connected to the web). You will get quick and easy access to your funds, but it is important to set up basic security option: strong password, two-factor authentication and so on.

    For long-term storage of bitcoins one should give a preference to cold wallets. Such vaults are connected to the web just before the transaction, therefore they provide higher protection of funds.

    Recommended services for storing BTC:

    • Trust Wallet: the official wallet of the Binance crypto exchange in the form of a mobile application. Convenient, multifunctional and reliable;
    • Exodus: a multi-currency crypto wallet available in desktop and mobile versions. Has a built-in swap service for quick currency exchange;
    • Ledger Nano X or Ledger Nano S: cold hardware wallets functioning like a flash drive, providing maximum funds protection.
    Read also: Top crypto wallets.

    How to Withdraw Bitcoin to My Wallet?

    Let’s see how to withdraw bitcoins from Binance using Trust Wallet as example.

    To transfer bitcoins from the exchange to the wallet:

    1. Select Wallet → Fiat and Spot in your personal account;
      Binance user wallet
      Binance user wallet
    2. Find a line for USDT and click Withdraw opposite;
      BTC withdrawal
      BTC withdrawal
    3. Specify the network in the withdrawal request. It must match the network in you wallet, otherwise the funds will be lost. Let’s select Bitcoin network;
    4. In the Address line you will need to enter the address for coins transfering. It is can be found in Trust Wallet. So you have to go to the wallet application installed on your mobile device (use a download link on the website);
      Application for withdrawal of BTC in the Bitcoin network
      Withdrawing BTC with the Bitcoin network
    5. Click Receive in the Trust Wallet app;
      Withdraw BTC from Binance to Trust Wallet
      Withdrawing BTC from Binance to Trust Wallet
    6. Type BTC in a search bar;
    7. The app will give you a unique address for receiving BTC: copy and enter it in the Address line in the withdrawal form on Binance (see 4th point).
      Withdraw BTC from Binance to Trust Wallet
      Withdrawing BTC from Binance to Trust Wallet

    FAQ

    How can beginner buy Bitcoins?

    1. Select a cryptocurrency exchange to buy BTC;
    2. Register an account on the exchange;
    3. Pass verification (if necessary);
    4. Top up your account;
    5. Buy BTC.

    Where can I actually buy Bitcoin?
    The best way to buy bitcoins is on cryptocurrency exchange. Such platforms have the following advantages: the best exchange rate, high liquidity, various trading pairs, including ones with fiat, the possibility to buy crypto with a card, through payment systems and etc., a high level of security. A reliable option might be the echanges like Binance, OKX, Bybit.
    Is it good to buy Bitcoin now?
    No one can predict how an investment in bitcoin will turn out. The cause of it is the excessive volatility of the crypto market - the rate can change many times a day. The main thing is: to clearly understand your financial goals and be aware of the risks associated with investing in cryptocurrency.
    What wallet stores Bitcoin (BTC)?
    We recommend these wallets for BTC coins: Trust Wallet, Exodus, Ledger Nano X or Ledger Nano S.
    Is Bitcoin real money?
    Yes, Bitcoin is real money. Bitcoin does not have a physical expression in the form of banknotes or coins and exist only online. BTC is used as a instrument of payment, and although it is not currently possible to use it everywhere to pay for goods and services, the number of such places is constantly growing.
    Can I withdraw Bitcoin to my bank account?
    Withdrawing bitcoins to a bank card is impossible. First you need to exchange BTC to fiat currency, for example, to dollars, euros, etc., and then withdraw received funds to a bank account or a card.
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    Agatha Redich
    Agatha Redich
    Articles author, editor
    Articles author and website editor. Works with texts for over 12 years. Among Agatha’s clients: Rossman, Zara, Bosch, ING Bank, Lexus and others. Crypto journalist since 2018. She wrote more than a hundred articles about cryptocurrencies and the crypto market. Agatha's professional credo is to reveal complex topics in an accessible and simple way.
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    Emil Rabin
    Emil Rabin
    Site expert
    Cryptocurrency expert and financial analyst. Emil has working experience in Bain and KPMG, collaborated with PayPal and Revolut, organized more than 30 educational events about blockchain and cryptocurrencies in Eastern Europe. An expert of the TGDRatings.com portal since 2022.
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